Tag: Herbert Hoover

What’s the Cost of NOT Extending those Jobless Benefits?

House will take up unemployment benefits extension Thursday

By Vicki Needham, The Hill.com — Nov 17, 2010

The House has put a bill on Thursday’s floor schedule that would extend emergency unemployment benefits for three months, according to the schedule released Wednesday night by House Majority Leader Steny Hoyer (D-Md.).

House Ways and Means Chairman Sander Levin (D-Mich.) and Rep. Jim McDermott (D-Wash.), chairman of the Subcommittee on Income Security and Family Support, introduced the bill today that would extend federal benefits — up to 99 weeks in some states for those who have exhausted their state unemployment insurance — through Feb. 28.

The measure is on the suspension calendar and will require two-thirds vote to pass.

A 3 Months extension, on that precarious lifeline, for Millions.

Just a 2/3 Vote needed.

Good luck, folks, looks like you could be “On your Own” — given the priorities of Congress, lately.

The more things change, the more they stay the same

  Perhaps the worst insult you can hurl at a politician these days is to give him the middle name of “Hoover”.

  Such as George Hoover Bush and Barack Hoover Obama. 80 years later Herbert Hoover is still the standard for the “do-nothing” president in the face of economic collapse.

 Like most easy comparisons, these examples lack details. That’s because the names are there for the purpose of accusation, rather than enlightenment.

 However, if you dig down into the individual economic policies of Hoover, Bush, and Obama, the story gets much more interesting.

 As Mark Twain once said, “History doesn’t repeat itself, but it does rhyme.” I’m not going to try and find direct connections in this essay, just broad picture comparisons. If the reader confuses the two, then that will only mean I was justified in writing this.

Welcome to Hooverville

Let me say it right up front: I’m getting sick and tired of the charlatan blowhards claiming that the New Deal “didn’t work”.  I was already mulling over a diary on this, when a Feb. 3 article by Charles McMillion (Blog for America’s Future) came to my attention:


The monthly data for industrial production show a near three-year collapse under President Hoover, ending when FDR came to office in March 1933. Production rocketed by 44 percent in the first three months of the New Deal and, by December 1936, had completely recovered to surpass its 1929 peak.

GDP, only available as annual averages, plunged 25.6 percent from 1929-1932, including by 13.0 percent in 1932. It stabilized in 1933, and then soared by 10.8 percent, 8.9 percent and 12.0 percent, respectively, in 1934, 1935 and 1936. Real GDP surpassed its 1929 peak in 1936 and never again fell below it. After-tax personal income, consumer spending, real private investment and jobs all reached or surpassed their 1929 peaks by late 1936.

It’s time to take a peek at President Hoover’s policies.

Cross posted at DailyKos

The Bonus Expeditionary Force

It must have had a dreamlike quality to it: a summer’s day in Washington, the tanks and troops on the street accompanied by officers like George Patton and Dwight Eisenhower, led by none other than General Douglas MacArthur.  America’s Caesar was wearing a full salad bowl of ribbons and medals, magnificent astride a great horse; to the impoverished veterans he was riding to meet, he must have looked like a mighty warrior of a bygone era.  Then, to their horror, the Chief of Staff of the US Army ordered his infantry to fix bayonets, his cavalry to draw sabers, and his tanks to move forward.

Join me, if you will, in the Cave of the Moonbat, we’re tonight’s historiorant finds Depression-hit vets of the First World War encamped in a Hooverville in Washington during the summer of 1932.  I’m not saying it contains lessons to be learned about the interrelationships of Republican presidents, veterans, economic depression, and violent authoritarianism, but as St. Colbert once said, “I can’t help it if the facts have a liberal bias.”